Marketing Mix of MCDONALD’S
Understanding 4Ps of Marketing Mix of McDonald’s
Founded in 1940, McDonald’s is an American food company and the world’s largest restaurant chain by revenue. Serving over 69 million people in over 100 countries, McDonald’s has approximately 37,000+ outlets as of 2018. The company boasts a solid marketing mix which has remained unbeaten by its competitors.
The article talks about the 4Ps of Marketing Mix of McDonald’s and how well it uses its product, price, place, and promotion strategies to gain an upper hand on its competitors.
Let’s check out the Marketing Mix of McDonald’s
PRODUCT: Product Mix of MCDONALD’S
McDonald’s, an American fast food restaurant chain specializes in hamburgers. McDonald’s product mix has the following main product lines:
- Hamburgers and sandwiches
- Chicken and fish
- Snacks and sides
- Desserts and shakes
- Breakfast/All-day breakfast
The company adapts its menu internationally to suit regional tastes and also has been revamping its menu from time to time to meet changing customer needs and tastes.
For example: In US, McDonald’s includes beef in its hamburgers and other menu products whereas in India, the company tweaked its menu and included chicken and vegetarian products just so as to meet customer’s taste.
Price: Pricing strategy of MCDONALD’S
The target audience of McDonald’s is middle and upper middle class and price their products accordingly. There are different pricing strategies that KFC uses for its products and its variants.
Optional Pricing: Optional pricing is basically used by companies to attempt to increase the amount customers spend once they start to buy. Optional ‘extras‘ increase the overall price of the product or service. In McDonald’s case, customers can buy the main items present in their menu and can then opt for “extras” or “sides” like drinks or desserts which go well with the main item that they purchased. The end result is that the customer ends up paying for the main item that he/she wanted to buy and also for the add-ons.
Bundle Pricing: McDonald’s bundles’ different products together and offers it to customers at a slightly affordable price. McDonald’s provides different combo offers to its customers, encouraging them to buy more products.
McDonald’s uses a combination of Franchise outlet system as well as company-owned outlets. There are a total of 37,000+ outlets McDonald’s has in over in 100+ countries. Customers can visit these outlets to enjoy the hamburgers or can order products and get it delivered at their doorstep.
Online Channels: To be in pace with the digital age, McDonald’s provides an option to the customer to order food online through their website. The company has also partnered with different leading food ordering companies thus allowing customers an option to order from these food ordering apps.
Promotion: Promotion Mix of MCDONALDS
Promotion plays an important role in the marketing mix of McDonald’s, the company uses a proper mix of ATL, BTL and Digital channels for creating awareness and promoting their products.
It is the strong product portfolio that makes it different from its competitors. McDonald’s uses different media channels like TV, hoardings, print, online ads etc for its promotion.
McDonald’s successfully leverages it’s strong social presence and uses it to interact and engage with its customers and also get honest opinions about their products and services from the customers.
McDonald’s also uses their outlets to the maximum potential to promote their new offerings and products.
This concludes the Marketing Mix of McDonald’s
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